Shillong, Sep 22: With a view to reaching out to MSME entrepreneurs, the Reserve Bank of India (RBI) conducted a town hall meeting on micro, small, and medium enterprises (MSMEs) on Friday at the Thangbuli Village Club Hall, Amlarem, in West Jaintia Hills District.

The meeting was chaired by Navneet Singh Nagar, DGM, RBI, Shillong. The meeting was attended by D. V. Lyngdoh, ADC, West Jaintia Hills district, Regional Manager, SBI, Regional Manager, MRB, officials from the Directorate of Commerce and Industries, Govt. of Meghalaya, officials from the Meghalaya Basin Management Agency, officials from banks, and entrepreneurs from West Jaintia Hills district.

The guests and participants were welcomed by Navneet Singh Nagar, DGM, RBI.

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He highlighted the significance of conducting Town Hall meetings with MSMEs in unbanked or underbanked areas so as to create awareness of banking facilities amongst the entrepreneurs in such areas, linking the unbanked entrepreneurs to the formal banking system, obtaining feedback from the entrepreneurs on the problems faced by them in accessing bank finance, etc., and providing a forum for two-way communication amongst the stakeholders and the various enabling policy measures taken by RBI.

He also emphasised that the Town Hall Meeting is a one-of-a-kind meeting where the Reserve Bank listens directly to the suggestions, opinions, concerns, and apprehensions of the MSME entrepreneurs to decide on the best course of action to formally include them under the banking channel through credit linkage.

This is a forum meant to facilitate a two-way interaction between the financial service providers and the service recipients (MSME entrepreneurs) to resolve issues responsible for financial exclusion. D. V. Lyngdoh, ADC; G. Sarma, RM, SBI; and Deepak Singha Roy, RM, MRB, also spoke on the occasion and exhorted the entrepreneurs to take full advantage of the meeting.

Officials from banks and other financial institutions addressed the participants
on various initiatives taken for MSMEs and the facilities available to existing as well as prospective entrepreneurs of the State.

The officials from the Meghalaya Basin Management Agency also explained about the various initiatives taken by the Government of Meghalaya, followed by the sharing of the success story cluster IVCS Sohphoh, which was also identified as a cluster under the Sfurti Scheme of the Government of India.

Trinity Saioo, a Padam Shree awardee, also graced the occasion and shared her story towards the promotion of Lakadong Turmeric across the country and abroad as well. Some entrepreneurs also shared their success stories with the audience. A few sanction letters were also handed over to the entrepreneurs during the programme.

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